By Rungano Dzikira
…as Government readies for National Development Strategy
Ministry of Finance and Economic Development says Government has managed to realise its set goals for the Transitional Stabilisation Programme (TSP) and are ready to move on to the next phase, the National Development Strategy 1.
Outlining the current progress marking the end of the TSP, introduced in 2018 and ending this year (Oct 2018-Oct 2020) the Ministry of Finance and Economic Development said the progress was remarkable.
“The TSP addressed various macro-economic imbalances, thus providing a foundation for robust economic growth and development beyond 2020,” said Professor Mthuli Ncube.
On the economic front, over the past 2 years Government has scored several milestones including re-introduction and stabilisation of the Zimbabwe dollar, rationalisation of the civil service in order to contain the wage bill, a foreign currency auction system adopted this year which has seen the local currency appreciate value and stabilising prices of basic goods and commodities.
“We have reintroduced the local currency, introduced the Dutch Forex Auction, removed fuel and electricity subsidies, operationalising ZIDA, implementation of Special Economic Zones, and fiscal consolidation,” he said.
The mining sector has seen the US$4.2 billion Great Dyke Investments Platinum Mine being under construction, US$4 billion Karo Resources Mhondoro-Ngezi platinum project ahead of schedule, Arcadia Lithium mine being developed, while new coal mines were opened.
On infrastructure development, Government managed to forge ahead with the construction of roads and several dams. The expansion of RGM Airport, the construction of New Parliament Building, the expansion and modernization of Beitbridge Border Post, the recently-completed Marowanyati Dam, Sengwa in Mashonaland Central and Gwayi-Shangani in Matabeleland North province, as well as construction of district hospitals.
Massive roadworks have seen the rehabilitation of urban and rural roads funded by ZINARA and DDF, the Harare-Beitbridge highway dualisation, and Karoi-Binga Road under construction. The completion of the Chiredzi-Tanganda road while the Makuti-Chirundu stretch is also under construction.
The minister added that dam projects, were part of a deliberate strategy by Government to move away from rain-fed agriculture to irrigation in pursuit of an agro-centric economic growth plan. In Agriculture Government has since signed that Global Compensation Deed, while Command Agriculture was replaced with private sector funded Smart Agriculture.
“The Land Audit was completed and saw farms downsizing in progress with at least 1.8 million farmers trained for Pfumvudza,” he said.
The healthy front also saw the building of new health centres, upgrade and renovation of hospitals and other health centres, acquisition and installation of new hospital equipment, recruitment of additional health workers, special allowances for health COVID19 frontline workers, as Government continues restructuring the Ministry of Health and Child care.
The TSP was primarily aimed at laying the foundation for the country’s Vision 2030, under which Government is planning to transform the country into an Upper Middle-Income Economy.
